Singapore: Five new tokens have arrived
We recently asked you which tokens you wanted to see added to the Wirex app next.
USDC, USDT, SOL, MATIC and AVAX was the overwhelming response - and guess what? All five of them are now live in-app! Start buying, HODLing and exchanging them today.
In case you’re not familiar with our newest additions, here’s a brief introduction to them.
USD Coin (USDC)
One of the best-known stablecoins around, Circle’s USD Coin is pegged 1:1 to the United States Dollar. It’s backed by cash and short-duration US Treasuries with a whopping 32.5 billion USDC in circulation as of October 2021.
With its roots in J.R. Willet’s 2012 whitepaper, Tether is another well-established player in the stablecoin space. Like USDC, it was originally designed to be backed by United States Dollars – although whether it truly is remains the subject of much debate. Currently the 5th largest cryptocurrency by market cap.
SOL is the native token of Solana - one of the fastest programmable blockchains in the world, which provides secure, scalable, decentralised apps and marketplaces.
MATIC is native to the Polygon Network, a protocol for building and connecting Ethereum-compatible networks. MATIC is used to pay transaction fees on the network, as well as participate in the proof-of-stake consensus.
Founded in 2019 by Cornell computer science professor, Dr Emin Gün Sirer, the Avalanche protocol is the ‘fastest smart contracts platform in the blockchain industry.’ Its native token, AVAX, can be used to pay transaction fees and secure the Avalanche blockchain through staking.